CoreWeave signs a five-year, $11.9B contract with OpenAI, which also takes a $350M stake

CoreWeave/CoreWeave Cloud

CoreWeave agreed to supply AI computing capacity to OpenAI under a contract worth up to $11.9 billion, and OpenAI took a $350 million stake in CoreWeave. The deal was announced weeks before CoreWeave's IPO and adds OpenAI alongside Microsoft as a major customer.

• Contract value: up to $11.9B for dedicated compute infrastructure; term: five years.
• OpenAI investment: $350M equity stake in CoreWeave, announced pre-IPO.
• Significance: diversifies OpenAI's compute supply (Microsoft, Oracle, Softbank joint venture on Stargate); reduces single-vendor dependence.